MReport March 2017

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TH E M R EP O RT | 29 FEATURE AMC's order system and can it integrate with the lender's LOS? Can the AMC assist with UCDP uploading? In addition to the above, lenders should consider a site visit to get a better feel for the AMC's capabilities and the people they would be working with. Compliance and AMC Monitoring L enders should review an AMC's compliance practices, including such areas as established protocols, whether the AMC has a dedicated compliance leader, the quality of staff training, and whether the staff is USPAP-certified. The AMC should also have an established protocol for terminating, if necessary, an appraiser relationship. Ultimately, lenders are responsible for the work product and overall perfor - mance of any retained professionals. The lender supervision of AMC partners should include, at minimum, an annual audit and review of benchmarks such as turn times and correction percent - ages. Some lenders may choose to rotate their AMC partners. While not required, rotation is permissible if it follows the principle of appraisal independence. Compliant methods of rotation would include random percentage splits or as - signment by geographic region. Regardless, the essential requirement of appraisal independence puts a pre- mium on AMCs with excellent technical resources and systems, close supervision of appraisers and in-house staff, and a commitment to regulatory compliance. Working together, appraisal indepen - dence makes for a sound marketplace and serves the best interests of lend- ers, investors, real estate agents, sellers, homeowners, and communities. MICHAEL DRESDEN is the president of Dart Appraisal, an independently-owned, nationwide appraisal management company founded in 1993. As the chief integrator for all branches of Dart Appraisal, Dresden works closely with the company's leadership team to create and fulfill a comprehensive strategic plan that delivers consistent, reliable, and customized service to a broad range of clients throughout the U.S. By effectively leveraging the company's innovative technology, Dart Appraisal excels at creating custom solutions that serve the complex needs of any appraisal customer. © 2016 Fair Isaac Corporation. All rights reserved. Is your migration plan ready? Learn more about FICO ® Score 9, the most current and predictive FICO ® Score.

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